Consumer Debt
Please note for the following petition. The Federal Government has established a Task Force on Financial Literacy to hold public hearings and get ideas from Canadians about ways of improving financial literacy. Last year research carried out by Statistics Canada for the Task force found more than one in three Canadians are struggling or cannot keep up with their finances. That means more that 30% of Canadians could be at risk. Sign the petition and you may contact the Task Force at their website www.finacialliteracyincanada.com
Petition commenced, on the 1st of June 2010
To the House of Commons in Parliament Assembled We the undersigned citizens and residents of Canada, draw the attention of the House of Commons to the following. Whereas we understand that the past Global financial crisis was triggered by over extended consumer debt, and that many Canadians are struggling with debt. Therefore, your petitioners call upon the House of Commons in Parliament assembled to legislate consumer protection that will reduce the maximum allowable interest rate charged on credit cards and fast loans, thereby eliminating any incentive to offer consumers over extended credit opportunities, preventing the commercialization of poverty and alleviate the extortion of poverty.